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8.
UnpredictabilityIdeas that are disruptive ○ Popularity vs Potential to be Revolutionary ● 5-10% - Brilliant, Majority think its insane ○ Not necessarily, a new company, but a new entrant to an industry (iTunes) ○ Inherently unpredictable (Black Swan), but in hindsight its obvious (Google)

11.
Pace of Human Innovation ○ Every innovation the result of one or more prior innovations ○ Think of Ideas as "procreating" and look at innovation similar to population growth ○ Emergent Layers of Abstraction ● Life sciences (genetics, biology) ● Energy and clean-tech ● Internet

12.
Coming back to the Web ○ Greatest new distribution medium since the printing press (Dell, Amazon, Skype) ○ Prior to this, how many great innovators would ever have their ideas see the light of day? ○ Globalization & lower barriers to entry ○ Internet itself is growing in a nonlinear fashion

13.
Disruptive Market Entry ○ Entering a market as a cheaper, lower-quality or lower-performance alternative (VOIP, CCD, E2W) ○ As technology improves, pushes the incumbent into an ever-shrinking high-end niche ○ As growth crosses the "knee" in the curve, the new entrant has effectively disrupted the market ○ Large companies often see this coming, but rarely have the power or foresight to stop it

17.
Wrapping up ○ Were witnessing unprecedented growth in industries such as the Internet ○ Due to predictable and unpredictable forces, new entrants have incredible advantages ○ Regardless of Financial, Economic and Political effects, the pace of human innovation increases ever faster